Voluntarism as an approach to environmental problems
a. has no place at all in solving the problems.
b. is quite successful in reducing pollution.
c. is more effective than first meets the eye.
d. often has proved weak and unreliable.
d
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Static tax analysis assumes that
A) an increase in a tax rate may lead to a decrease in the tax base. B) an increase in a tax rate will lead to an increase in the tax base. C) an increase in a tax rate will leave the tax base unchanged. D) the tax base will always remain unchanged.
The Fed tries to prevent major financial crises through its control of financial markets
a. True b. False Indicate whether the statement is true or false
Exhibit 14-6 Aggregate supply curve
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In Exhibit 14-6, when the economy moves from a GDP of $1,000 billion to a GDP of $1,100 billion,
A. higher wages will lower the cost of producing goods. B. real GDP and employment both increase, but only under conditions of constant prices. C. real GDP increases and employment decreases, but only under conditions of price level increases. D. real GDP and employment both increase, but only under conditions of price level increases.
Economic inefficiency of a monopoly occurs because
A. P > MR. B. P = ATCmin. C. P > MC. D. MR = MC.